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In real estate terms, we call this area 530. The area of Redmond called Education Hill is north of Redmond Town Center and is not part of this report.  The area represented by the statistics posted below is Redmond, 98052, south of highway 908 and east of 140th Ave NE. The neighborhoods are all within shouting distance of Microsoft. In real estate terms, we call this area 530. The area of Redmond called Education Hill is north of Redmond Town Center and is not part of this report. The numbers in parentheses show last week’s totals. All numbers are gathered mid-day on Thursdays from NWMLS information.

Number of homes for sale: 72 (75)

New listings: 5 (6)

$0-$349,999: 1 (1)

$350,000-$499,999: 20 (24)

$500,000-$749,999: 34 (33)

$750,000-$999,999: 9 ( 9 )

$1,000,000- $1,499,999: 7 (7)

$1,500,000- $2,999,999: 0 (0)

$3,000,000+ 1 (1)
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Average Asking Price of Homes for Sale: $692,052 ($679,685)

Median Asking Price of Homes for Sale: $586,850 ($580,000)

Average Days on Market: 93 (88)

Highest Priced Listing: $3,400,000 ($3,400,000)

Lowest Priced Listing: $315,000 ($315,000)

New listings: Five new listings came on the market, although we have less for sale the past few weeks than we did about a month ago when over 80 homes were for sale.

Price reductions:Price reductions are leveling off, so the hope is more homes are priced to meet the current real estate market.

Home sales: Six homes received offers, the same as last week,  and are working through inspections.  Four homes had the inspections satisfied and are now pending.  The homes receiving offers were all priced under 700k, with 2 of the homes priced under 400k.  The 400k price range is moving really well these days.  Four of the 6 homes were on the market for less than 50 days.  One home was on the market for over 300 days.

As I mentioned before, there is a healthy turnover of homes for sale.  We see a good number of homes coming on the market each week and a good number receiving offers.  This points to the more balanced market we see between buyers and sellers.  A more balanced market means some homes will sell quickly, if they show well and are priced right.  Other homes will undergo price reductions and a longer marketing time and some homes will not be sold because they are overpriced for the real estate market.  Pricing is still everything in this market.

Closed Sales Of The Week:

$290,000 Sammmamish Forest Manors town home with 1350 square feet, 2 bedrooms/2 baths.  Original asking price of $329,000, last asking price of $299,900, sold in 106 days for 12% less than the original asking price.

****These one level town homes are very popular as there are so few around.  Most town homes have two or more levels.

$440,000  View Ridge neighborhood north of Microsoft (my listing), a 1 1/2 story Cape Cod style home with 2300 square feet, 5 bedrooms, and 2.5 baths.  Original asking price of $459,950, sold for 5% below the original asking price in 41 days.

***** Beautifully updated with a new kitchen and baths, beautiful backyard, and Microsoft was literally down the street.

$595,000 Sheffield Greens rambler with 3 bedrooms, 1.75 baths, 2155 square feet, sold in 37 days with the original asking price of $625,000.  sold for 5% below the original asking price.

****Popular Burnstead neighborhood (great builder), just across from Microsoft’s Redwest campus.

$700,000 Evergreen Lane new two story with 3043 square feet, 4 bedroom/2.5 baths.  Original asking price of $759,950, sold in 55 days for 8% below the asking price.

*****Camwest new construction close to Microsoft’s Redwest Campus. Good builder, rare new construction so close in, next to park.

$1,600,000 Two story with 5 bedrooms/5 baths, 6690 square feet.  Original asking price of $2.6 million. Sold in 425 days for 39% below the original asking price.

*****Fabulous price for a waterfront home on Lake Sammamish with this amount of square footage.

Have a great weekend!